Klarman Hall Construction Update, 9/2015

1 09 2015

Klarman Hall is entering the home stretch now, just a few months from its anticipated January 2016 completion (and a few weeks behind the December 2015 date initially planned). Montour Falls-based Construction firm Welliver is busy sealing up the building’s exterior, while putting up drywall, painting and finishing-out the interior lower floors, and wrapping up services rough-in in the upper level offices.

From the looks of it, most if not all of the sandstone exterior wall panels have been installed. The vestibule has been framed out but has yet to be glazed (window installation), and while the atrium has been glazed, the glass-paneled roof above the atrium has not. Concrete stairs have been poured on the slope, and the rest of the landscaping will follow after the building has been completed and the warm, snowless weather of spring comes around. Construction progress of the project can be followed through aerial photos shared by Landmark Images here.

The 33,250 sq ft building was designed by Koetter | Kim & Associates, and is named for billionaire hedge fund manager Seth Klarman ’79. The building will be the first new humanities building on Cornell’s campus since Goldwin Smith Hall was built onto the old dairy science building in 1906. Just like Cornell did with Goldwin Smith over a century ago, the new building will be combined with the old building through hallways and commons areas. Klarman Hall will contain classrooms, faculty and graduate student offices, and in its the north section, a 350-seat auditorium. The large interior atrium makes use of the rotunda of Goldwin-Smith Hall for open-layout seating, a food/cafe area, and ingress/egress. Cornell is aiming to have the building achieve LEED Platinum certification.

The cost of the new building, which began construction in May 2013, is estimated at $61 million.

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Gannett Health Center Construction Update, 9/2015

31 08 2015

It wouldn’t be Cornell if they didn’t have at least a few construction projects underway on their campus, and this summer has been no exception. Here are some photos of the Gannett Health Center expansion taken last weekend.

The poured concrete stairwells are probably the first thing passersby notice, given that they’re the tallest structures on-site (construction cranes notwithstanding). The western stairwell has been fully poured and topped out, while the eastern stairwell is currently underway. Look closely and you’ll see the wooden forms used on the concrete. These forms provide stability and shape while the concrete hardens, and they provide support to the reinforcing rods embedded in the concrete. They will move further up the stairwell as more concrete is poured and cured.

Between the stairwells, structural steel beams and joists are being hoisted by crane into plane, and corrugated steel decking for the floors is being laid down as the steel framing is built out. The new addition will continue to rise as the new building, the first phase of three, moves towards its July 2016 completion. Phase II focuses on renovations to the old building, and Phase III a reconstructed Ho Plaza entrance. The whole project is anticipated to be completed by August 2017. Construction firm Welliver is the general contractor for the project.

The building design is by local architecture firm Chiang O’Brien, with landscaping by Trowbridge Wolf Michaels Landscape Architects. There will be two additions to Gannett, a four-story, 55,000 square-foot building, and an additional 18,600 square foot addition that replaces the northeast side of the current building. The project also includes a new entrance and substantial renovations to the original 1956 structure (22,400 square feet of the existing 35,000), as well as landscaping, site amenities, and utilities improvements. The projected cost is $55 million.

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News Tidbits 8/29/15: Stirring Pots and Stewing Minds

29 08 2015

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Short set this week. Things are relatively quiet for this week’s round-up.

1. Leading off this week, Ithaca Neighborhood Housing Services’ (INHS) 210 Hancock development has finally received initial approvals, after a months-long, contentious debate. With the zoning variances granted, it was up to the planning board to issue preliminary approval, and compared to previous meetings, the discussion and decision was brief and uncontested. The plan is to have the project start construction in its phase (the commercial space, 53 apartments and the five rental townhouses) next May, wrapping up the following year. Initially, the time-frame was next fall, but getting approvals now has allowed INHS to move up the time-frame a few months. The seven for-sale townhouses will be built at a later date, with funding separate from the rental units.

The project isn’t necessarily a 100% sealed deal (and really, no project is until it’s complete). INHS has to submit an application for low-income tax credits as part of its financing package, and those are due in by October 6th. Only about 30% of applications receive funding (recipients will be announced in January 2016), but INHS has a pretty strong track record to go on.

After the feud over the Stone Quarry Apartments, INHS made an effort to be transparent about the planning process with the Hancock project and openly engage with the community. Unfortunately, it backfired. It’s looking like INHS’s next major proposal will end up out in Freeville, so apart from one or two houses that may end up in the pipeline over the next year or so, INHS isn’t likely to propose any further affordable housing development in Ithaca for a while.

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2. One controversy subsides, another heats up. The Planning Board was not amused with State Street Triangle at the latest meeting. Now, given the wide spectrum of opinions that runs through the area, the folks that serve on the board tend to be fair and even-keeled. Not gung-ho about all projects, but definitely not a part of the “I oppose anything that makes Ithaca look different” commentary that comes out of some quarters. So this week’s comments tend to be about as harsh as it gets without saying no outright.

I personally don’t like the “It doesn’t look like Ithaca” comment used for the Ithaca Voice headline, because a city isn’t a static object – buildings are built or replaced, homes are painted and renovated, and retailers change. The Ithaca of 50 years ago, or even 20 years ago, isn’t like the Ithaca of today or 20 years from now. Subjective comments are prone to pitfalls.

But that doesn’t change the fact that the size of this proposal makes a lot of people uncomfortable. The building can be built as-of-right (but board approval is still required before permits can be issued), but there might be a substantial benefit if Campus Advantage were accommodating of the concerns, especially with the tax abatement being pursued. For the sake of example, INHS was very receptive to incorporating suggestions in its 210 Hancock project, which really helped during the approvals process. A little more flexibility on CA’s part could make all the difference, assuming they can still make a decent return on investment. I’ve heard that there are further design revisions underway (whether they’re minor tweaks or major changes is not clear), and hopefully those will be put forth for review sometime soon.

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3. Here’s a detail worth noting from the County’s last Legislature meeting – the following is a line from Herb Engman, the town supervisor of Ithaca, addressing the legilslature as he announced his intent to retire at the end of the year:

“Cornell is moving on its consultant to plan the first phase of redevelopment of the East Hill area”.

The wording is a little odd, but my impression is that the consultant is moving forward with planning the first phase of the “East Hill Village“, or whatever Cornell’s planning staff are calling it these days. Actual plans are probably still several months or a year out, not to mention the months of trying to get approval, and then financing/construction. But given the rapid rise in enrollment at the university, any movement towards accommodating more students and reducing the strain on municipalities is welcome.

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4. There will be a full-fledged article on this in the Voice next week, but for those looking to kill time, here’s a “family budget calculator” from the Economic Policy Institute think-tank. There are several ways to calculate affordable housing, but many don’t take childcare into account, so it’s worth seeing just how much affordability changes when children enter the picture.

Word to the wise though – EPI’s data has some flaws. If you compare this to AFCU’s living wage calculation for adults with and without children, you’ll find some sizable differences.

 

 





Urban Renewal Part I: Ithaca’s “Project One”

18 08 2015

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It was called “Project One”.

The year was 1964. The tax base of Ithaca, and especially downtown Ithaca, had been eroding for over a decade. Suburban big-box stores started to appear on the south side of the city in 1950, and up towards Lansing, plans were already underway for a new suburban supermarket and department store (the Shops at Ithaca Mall wouldn’t come along for another twelve years). New neighborhoods were sprouting in northeast Ithaca and Eastern Heights, and cul-de-sacs were paving their way onto West Hill and South Hill. Ithaca College was moving its staff and students to a sprawling campus just beyond the city line. From 1954 to 1960, 48 offices and retail stores closed or moved out of downtown Ithaca, a drop of 18%. The city councilmen were concerned.

So how were they to draw people and tax dollars back into the city? The city officials looked around. In the 1950s and 1960s, it was trendy to have that rambling ranch house set back far from the street, it was fashionable to attend indoor shopping centers away from the rain and the cold.

Image courtesy of Tom Morgan

Image courtesy of Tom Morgan

But most importantly, the trendsetters agreed, was that one could not live the high life, one couldn’t even dream of being a part of the jet set, without a big, luxurious car at their command. Two tons of chrome and steel, heralding you’ve made it in this world, and your car will take you anywhere and everywhere you want to be. And if a place wasn’t accommodating for your stylish set of wheels, then it wasn’t a place worth visiting.

The councilmen and the city officials were taking note of all those chrome-trimmed Bel Airs and Galaxies, with their bright colors and sculpted fenders. Following the results of a study conducted in 1959 and finalized in 1962, they came to the conclusion that in order to revive downtown, they had to catch up with the times, to bring downtown into the mid-20th century future with a swagger and a swing.

The plans were grand. In place of the nearly century-old Hotel Ithaca, a new hotel a block long, designed in the finest of modern taste. Out would go the decaying buildings of 60, 80, 100 years yore, in would come wider roads, ample parking, modern buildings and ideally, an influx of cash. Ithaca hoped it would bring new residents back into the city, while Cornell U., happy to give some money towards the effort, hoped it would bring in more industry and research organizations.

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Project One was to be the first of three steps in Ithaca’s Urban Renewal plans. Plans in Project One called for the demolition of the Hotel Ithaca block and the buildings on the south side of the “tuning fork”, already built by that time (and taking out a number of buildings in the process). In their place, the new hotel would go, and a new bank office on the south side of the fork. In the model above, you can see what was once the Strand Theater (demo’d 1993), Restaurant Row and the old Rothschild’s Building (also gone now) still intact. There would be new auto dealerships, new department stores, traffic generators and tax generators.

Image from Cornell Daily Sun, 10/20/1966.

Image from Cornell Daily Sun, 10/20/1966.

The rest of Project One targeted about 26 acres of land bounded by State Street, Cayuga Street, and Six Mile Creek. Essentially, everything south of the Commons, and everything east of the present Hotel Ithaca/former Holiday Inn. Much of the area between Six Mile Creek and Cayuga Street was auto repair shops, dealerships and other car-oriented enterprises. Pritchard Automotive, a block further south, could be seen as the last vestige of when South Cayuga Street was “Automobile Row”.

The plans moved forward in fits and starts. Survey and planning work was brought to a stop in 1962 by Ithaca mayor John Ryan, who vetoed the plan. But following the election of Hunna Johns in 1964, the grand revitalization schemes moved forward again. The Common Council approved the federal application for Project One in June 1964.

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After six months of delays, federal funding came through in December of that year. Cornell had already given funding to the tune of $500,000 (about $3.85 million today) to help pay for the projects, but the federal government would be the primary source of funds, which would pay 75% of the $6 million initial cost. Ithaca and the state of New York would each fund about $750,000. The city reasoned that it would bear the expense now for increased tax revenues in the future.

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Of course, not everything worked out as planned. Nowhere close, really. That will be covered in Part II.





News Tidbits 6/20/15: Big and Far, Small and Near

20 06 2015

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1. In something not Ithaca but Ithaca-related, it seems like Cornell’s New York City-based Tech school is having quite a good week. Cornell announced that construction began earlier this month on a $115 million residential building at the Cornell Tech campus. the 26-story, 270′ tower is being built to passive house standards, the largest passive house building in the world.

According to an article in the New York Times –

“That means the building is able to maintain a comfortable interior climate without active heating or cooling systems, through the use of, among other things, an airtight envelope and a ventilator system that exchanges indoor and outdoor air. In climates like that of New York, however, standards allow small heating and cooling systems.

Making the Roosevelt Island tower airtight — creating what is essentially a giant thermos — was one of the biggest challenges, said Blake Middleton, the principal in charge and partner at Handel Architects, the building’s designer.”

The 350-unit, 530-bed building will house mostly graduate students, with some research staff and faculty also living in the tower. The apartments, designed by Handel Architects of NYC, are due to be completed sometime in 2017.

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As noted at Curbed, to celebrate the groundbreaking, partner/developer Forest City Ratner released new renders of “The Bridge“, the tech incubator building on the right that looks like and ice cube cleaved into two pieces. As one might imagine, the new renders come with token florid language and eye-rolling descriptions (“an ecosystem of companies”). The Bridge, designed by New-York based Cornell alums Weiss/Manfredi, is being designed to LEED Silver standards, which is still better than about 99.5% of Ithaca. Construction permits were filed in January.

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Last but not least, the $100 million Bloomberg donation, to name the first building “The Bloomberg Center”. The Bloomberg Center, designed by Thom Mayne of Morphosis Architects, will also open in 2017. To date (i.e. about three years since inception), philanthropy to the tech campus has totaled $685 million – and absolutely none of them care where you think the money would be better spent. Cornell hopes to raise $ 1 billion ($1,000,000,000) for the school by 2021.

For comparison’s sake, all of Cornell, Ithaca campus, Weill and Tech, raised $546.1 million in donations in 2014, and $474.9 million in 2013.

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2. Now to go from something big and far away to something small and local.  It’s been a while since we’ve heard about DiBella’s, the Rochester-based sub sandwich chain that had been eying Ithaca last November. They’re back, and the proposal has has some pretty substantial tweaks.

The building itself is still about the same size (~3,400 sq ft), but the design of the building has been reworked to a brick facade with an asymmetrical door/window configuration. The building is now contiguous with the main shopping strip, no longer isolated from the rest of the stores by a driveway. No decisions are expected to be made at the June Planning Board meeting, it’s more of an update for the board as to what’s going on, and to solicit input.

Marx Realty of NYC is developing the pad property, and local architect Jason Demarest (brother of STREAM Collaborative’s Noah Demarest) is handling the design.

3. Shifting out to Dryden now; I don’t tend to write much about Dryden, since a lot of the local development is limited to single-family homes in semi-rural areas (and separately, bad things happen when I write about Dryden).

First, Dryden village. The village has seen quite a jump in population in the past couple of years thanks to the opening of the 72-unit Poet’s Landing affordable housing complex (affordable here meaning that it’s income restricted and rents range from the $600s/month for a 1-bedroom to about $900/month for a 3-bedroom). At least as far back as 2010, a second phase, at the time a 72-unit senior apartment building, was planned by Rochester-based developer Conifer LLC.

Glancing at the village’s outdated webpage, there were meetings in October about phase II. A little searching online shows the negative SEQR determination (meaning no major adverse impacts expected) was issued in February of this year. The determination announcement says that 48 more apartment units are planned for the land directly west of the current complex. The Poet’s Landing facebook page says that funding wasn’t allocated for the expansion this year, but they are hopeful for 2016.

It’s not the best location; affordable housing developments often vie for land outside of developed areas simply because the land is cheaper, but the trade-off is that residents are often isolated, especially if they don’t have money to maintain a car. Here at least the village’s main drag is close enough that residents aren’t totally isolated. And any affordable housing in Tompkins County is welcome.

4. Meanwhile, in Dryden town, there are a couple of projects going on. One involves the construction of 8 duplexes (16 units) at a 5 acre parcel on Asbury Road. Working with that piece of information, there was only one parcel that met the provided description – a property just east of the Lansing-Dryden town line that sold for $30k last August to “SDM Rentals”. Scott Morgan is given as the developer in the town documents.

SDM Rentals does have at least one other recently-developed property, the Meadowbrook Apartments, a set of at least 7 duplexes at 393 Peruville Road in Lansing for which he received a $1,000,000 construction loan in 2013 (2 were built in 2010), and rent for $995/month. The ones on Asbury Road will probably look similar.

The town notes that although the SEQR is still being prepared, the site was already being prepped with dirt fill, resulting in not one but two stop work orders. Looking online, it appears Morgan has a history of being a problem for local government, including a case in Lansing town where he was using a broken-down school bus for a pig barn.

5. Now for project two, a multi-unit project at 902 Dryden Road. I’m just going to link to the Ithaca Voice article in an effort to save time. 15 units, (2 renovated, 13 new), 42 beds, and a $1.5 million investment.

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I plan on touching on a couple of other minor Modern Living Rental projects at some point, but we’ll save those for a slower week.

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6. This week’s house of the week feature is 318-320 Pleasant Street on South Hill. The rear portion (foreground) is an addition, a duplex with 3 bedrooms each. Exterior siding is nearly complete, though some housewrap and plywood is still visible on the south (front) wall of the addition. A peek inside the interior showed that the drywall has been hung-up, but final details like carpeting have yet to be installed (several rolls of neutral-colored carpets lay stacked on the floor).  The owners of the 105-year old house are members of the Stavropoulos family, who run the Renting Ithaca rental company and the State Street Diner.

On a side note, the 200 Block of Pleasant Street must be one of the worst hills in the city. Walking it must be terrifying on icy days.

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7. The Old Library vote made quite a splash in this week’s news. With a 6-6 hung vote, everything’s up in the air. This is what I feared would happen.

There’s a couple of options to break this. Two legislators, Kathy Luz Herrera (D- District 2, Ithaca City/Fall Creek and Cornell Heights) and Peter Stein (D-District 11, Ithaca Town/East Ithaca), weren’t in attendance, and could call the measure back up for a vote. Herrera’s District is two blocks from the Old Library site, and Stein’s a retired Cornell professor, so although I shouldn’t be guessing people’s judgement, I don’t think it’s a stretch to imagine which of the two projects they’ll be swayed by. But if either one of them decides they dislike all three options, or if they split their votes, then everything will be stuck in limbo. At that point, it’s anyone’s guess – the building could be mothballed, or given that its HVAC and utility systems are at the end of their mechanical lives, it could even be demolished as a long-term cost-saving measure.

If the county does decide in favor of one proposal, it’s still a long road ahead – ILPC approval, Ithaca city planning board approval, and a variety of other measures, which could break the winning proposal. Both projects have potential challenges – with Travis Hyde, ILPC or the Planning Board may try and whittle down its units, removing the density lauded by some legislators, and perhaps the project will no longer be financially feasible. With the condos, one starts with a building that’s had asbestos and air quality issues in the past – one bad surprise in the renovation, and the project could be jeopardized, or at least priced well above the quoted $240-$400k. There are a lot of variables in either equation, and since they can’t all be quantified, both will have their risks.

I’m just going to hope that someone is able to bring new life to the site. I don’t want to see two years go to waste.

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8. Almost to the end. Here’s your monthly look at the Planning Board Agenda for next Tuesday:

– No subdivisions this month, but there will be a 15-minute public comment period on the city’s new Comprehensive Plan.

A. 210 Hancock will be giving an update on its plan and up for recommendation for the Board of Zoning Appeals for parking (64 spaces vs. 84 required) and height variances (46.5 feet vs. the legal 40 feet). Quoting the pre-prepared document, “The Board strongly recommends granting the requested variances.”

B. An update on DiBella’s as described above

C. Tompkins Financial Corp’s Headquarters will be open for public comment, determination of environmental significance (SEQR negative/positive), and preliminary approval for both phases

D. 215-221 W. Spencer will be reviewed for Declaration of Lead Agency (Planning Board agrees to conduct of State Environmental Quality Review)

E. “Collegetown Housing Project at Dryden and Linden – Update”. A.k.a. whatever John Novarr’s planning for that five-building stretch of Dryden and Linden he just deconstructed. Readers might remember this site was part of his Collegetown Dryden project proposed last July, but there’s no indication if it’s a revision of that, or a totally different approach. The one thing that is constant is the zoning – MU-2 for the three properties on Dryden and 240 Linden, and CR-4 for 238 Linden. Neither zone requires parking, MU-2 allows six floors and necessitates mixed-use (often interpreted as ground-floor commercial), and CR-4 does not have mixed-use requirements but the height is limited to four floors. Expect an urban-friendly six-story building fronting Dryden with a four-story setback on Linden.

F. “State Street Triangle (Trebloc) Mixed-Use Project – Update” Anything could happen. Height decrease, site redesign, fewer units, major design changes…we’ll just have to wait and see how the 11-story, 600-bedroom tower has evolved given the initial recommendations of the Planning Board.

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9. We’ll end this week on a happy note. Shen Properties LLC plans on launching their Simeon’s rebuild shortly; first and second floor restaurant space for Simeon’s, and five luxury apartments. The exterior will be a near-replica of the original facade of the Griffin Building, but the interior will be renovated to hold an elevator and a sprinkler system. In a quote to the Journal, property manager Jerry Dietz says to look for a reopening in the very late 2015 or early 2016 timeframe.





News Tidbits 5/30/15: Slow Week

30 05 2015

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Not much of a news roundup this week. Nothing new to report from the city except that the Texas Roadhouse was approved, and the only item on the town of Ithaca’s planning board agenda for next week will be the review of a subdivision to create a new home lot off of Hanshaw Road. With the lack of news acknowledged, there were at least a few things I wrote up for the Ithaca Voice this past week that will happily fulfill your reading time if you haven’t glanced over them already.

1. Maplewood Park Closure, Replacement Likely – To loyal reader “CS PhD”, I honestly had no idea what you were referring to in your comment on the Boiceville post until a Cornell press release reached by inbox a couple hours later. I did reach out to Ithaca East (old Maple Hill) manager Bruce Abbott, who told me that Cornell has a two-year notice in case of closure, which gets renewed by June 30th. In practice, that means that the 81-unit Ithaca East apartment complex won’t close until June 30th 2017 at the earliest, but Cornell has until the end of next month to decide whether or not to extend that to at least 2018. As Abbott mentioned in his email, “Currently, I have 70% Cornell graduate students [in the tenant mix], so I may be considered a resource to them [Cornell] while they are replacing Maplewood.  Otherwise, I have about 35 days before I know what the future holds.” And we shall see what happens; Ithaca East with its couple hundred bedrooms likely won’t be closed until that much replacement housing has been built and opened at the Maplewood Park site. 480 bedrooms will be tough enough for the market to absorb as it is.

Edit: In a follow-up email, Bruce Abbott corrected the dates – Cornell has to notify him by June 1st and a theoretical closing would be May 30th, 2017 at the earliest.

2. National chain Smashburger plans to open Ithaca franchise – Although no locations were given, a casual check suggests that it’ll be in a suburban location in an already-built space, although urban spots aren’t completely out of the question. A typical Smashburger is a little over 2,000 sq ft, and they don’t have drive-thrus. For example, the one in suburban Albany reuses what was once a Friendly’s. Smashburger locations typically employ about 25, and franchising requires a net worth of $1.5 million, including $500k in liquid assets.

No surprise, the Voice readers have been spirited in their assessment…it definitely didn’t help Fine Line Bistro’s closing was published this morning. The reaction isn’t quite as controversial as Texas Roadhouse, probably because not as many people are familiar with Smashburger. I look both forward and dread the day I write about Sonic (which is looking to come into the market), Trader Joe’s (of which I’ve heard nothing), or any other very high profile chain makes their move into the area.

3. Which Tompkins County towns are growing fastest? – Most towns reported growth year-over-year, and the census revised the 2013 numbers upward. Ithaca city now stands at an estimated 30,720, an increase of 706 since the 2010 census. Ithaca town, for which the Census Bureau includes Cayuga Heights, stands at 20,515, an increase of 585.

Now comes my gut check – I think the city numbers and town numbers a little high. I base that off of building permits. If I count the number of annual permits given in the federal HUD SOCDS database, I get 127 units (75 single-family homes and 52 multi-unit) for 2010-2014, and just 14 units, 10 single-family homes and two duplexes, in all of 2014. If one assumes 3-bedroom house and 2-bedroom apartments for statistics’ sake, then one gets 329 residents. Cayuga Heights add 27 units – 24 1-bedrooms in the current Kendal expansion, one two-unit (most likely the rear addition to 207 Kelvin Place), and one new home since 2010. I think that equates to about 33. So 362 total, only ~62% of 585. As for the city, there were 259 new units, of which only 12 were single-family homes. Using the same math as before gives 530 residents in new units, 75% of total. I’m not sure how things like renovations or reuse projects are handled, so the city might be within the margin of error on my back-of-the-envelope calculation. But for the town, probably not.

Long story short, take the population estimates with a healthy dose of skepticism.





Klarman Hall Construction Update, 5/2015

19 05 2015

Since the last update on Klarman Hall in February, the snow has melted and East Avenue has been reopened to all vehicular traffic. Construction firm Welliver has been pouring concrete on the upper floors and the structural steel has been erected. Concrete pre-cast has been installed on the atrium-facing portions of the top floor, with bright green glass-mat sheathing visible on some of the panels. Within these panels, the window cutouts are visible, and as seen in the last photo, windows have already been installed on the south block facing into what will be the atrium. Windows will be installed in the north block shortly. To hoist these panels into place, a telescopic crane is used.

Less visible to the outside observer, interior wall framing is underway on the upper levels, with utilities rough-in continuing, and some drywall installation underway in the more complete areas. Openings have been created in Goldwin Smith’s rotunda (where people will flow in and out of Klarman’s atrium), and the sub-slab (the concrete below the new floor) is being poured.

The long-term construction schedule calls for window glazing (exterior glass wall installation) and drywall to be complete by the end of June. The atrium skylight glazing will take place during the summer, the elevator will be installed by August, and the green roof will be prepared just as the fall semester kicks in. Klarman Hall will open its doors to the public in December if all goes to schedule.

The 33,250 sq ft building was designed by Koetter | Kim & Associates, and is named for billionaire hedge fund manager Seth Klarman ’79. The cost of the new building, which began construction in May 2013, is estimated at $61 million.

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